EER is one of the largest coal resource in ASX.
The company states on its website:
"The company has over 1.2Bn tonnes of Inferred JORC Thermal Coal resource proven on their Blackall Tenement located to the South West of Hancock Coal?s and Waratah Coal?s significant deposits in the Galilee Basin. The company?s focus is to expand and develop the existing resource in order to support a 30Mtpa export operation by the end of 2013 with a mine life in excess of 50 years."
Eren, where is the 3b from? I would rather base on the concrete facts.
I just found the following article, you might be interested;
(capital expenditure for EER's open-cut 30Mtpa would be around $900m - $1b, annual gross revenue would be around $3.6b, supposed to far profitable!)
http://www.abare.gov.au/publications_html/energy/energy_10/ch_5.pdf
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